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it and make it pro-growth. >> on the democratic side, senate majority leader harry reid told reporters he would like credit for what congress previously cut. >> we have already done a billion dollars worth of cuts. >> today, the top democrat in the house took a similar approach. >> i think it's important to note we have already agreed to $1.5 trillion in cuts in the budget control act and other acts in this session of congress. so now we wait to see the revenue piece to that. >> asked what she would be willing to slash as part of this deal? >> we'll be talking about that later. >> rank and file house members say they realize more must be done now. >> we can means test entitlements, so for folks making $1 million year, you know, maybe they aren't able to access medicare. they have the means to buy their own healthcare. >> i know we can't afford to spend $690 billion on the defense, but there are smart ways and dumb ways to cut defense spending. for example, we still have bases all throughout western europe that there hasn't been a threat to western europe since 1989. >> beyond that, he did
be spending about $3,000 more. >> harry reid kept the focus on the president's winning campaign message of letting the tax cuts expire on incomes over $250,000 a year. >> the people who have done so well during this difficult time with the economy, the richest of the rich are going to have to pay a little more to solve the financial problems we have this this country. >> this is what the campaign has been all about. congressional democrats are making sure the message is simple, consistent, to the point and easy to consume. recent comments from david plouffe as well as lawmakers left the president's strategy open to interpretation. progressives were concerned the social safety net programs were on the chopping block, but today democrats were unified in their approach. they are all on the same page. the president was reluctant to agree to a deal cutting medicare and medicaid benefits. president obama is seeking $1.6 trillion in additional revenue over ten years and $340 billion in health care savings. the time says the deal would not affect benefits. that's the keyword, benefits. the pres
's representative in the negotiation, and harry reid is telling a far different stories. john boehner and his caucus, the target, again, of senator reid's blame game. the senate majority leader insistent that republicans are the only onee in the way of the deal. reid asked point blank what the first thing would be, and he offered this curious answer. >> well, remember, we've already done more than a billion dollars worth of cuts. we've already done that. we need to get some credit for that and the negotiations that take place. lou: meanwhile, according to the white house, everything is not on the table, the table that a president is not scheduled to be seated at. carney confirmed that president obama will not find any extension of the bush tax cuts for the top 2% of the earners in the nation, and a look at the president's schedule for the remainder of this week shows nothing in the way of negotiations on it. the president reverting back to campaign mode as the white house decided to lobby for public support of his fiscal cliff policy positions rather than negotiate a compromise. president obama beli
following comments from senate leader harry reid that budget talks may be stallng out. groupon shares rallied on word talks are underway about a new ceo. investors poured money into green mountain after the close. the stock gained 20% after hours on better-than-expected earnings. and the new apple imac will go on sale friday. larry shover of sfg alternatives joins us now for a closer look at today's trading market. good to have you on the show larry. always good to see your smile. a lot of reports were surfacing yesterday that harry reid actually moved the market because he said that talks had stalled out over the fiscal cliff. do you buy into that? > > perhaps. right now, the market seems to be shrugging its shoulders at every headline that comes in, because we are hearing so much. but what harry reid said was really a game- changer, about perhaps trying to curb filibusters. that would be a game-changer, and would put a lid on the stock market. > he could have that much power? unbelievable. all right, let's move on to our next question and talk about greece. for now it looks like gre
of it in reaction to harry reid's dismal statement. i got an e-mail with it all in caps, the market is coming in on these headlines from harry reid. this matters, every word they say matters and white house press secretary jay carney was on the defense today. he pointed out as he had done yesterday that the president spoke on the phone with senate majority leader harry reid and john boehner over the weekend. and besides carney says, the president has to talk directly to the american people. >> it is vitally important that ordinary americans actively engage in this debate because the outcome of these negotiations and the hopeful product of these negotiations are the product that we hope emerges from these negotiations will profoundly affect their lives. >> so is the president, the missing ingredient to really nailing down a fiscal cliff deal? could he end the drama right now if he stayed put in washington and held a series of face-to-face meetings with reid, mcconnell, boehner, and pelosi instead of his planned meetings this week with small business owners, business leaders and middle class am
's democratic party. what you here from barack obama, harry reid, nancy pelosi, dick durban is not lowering all tax rates to get economic growth. you have a modern democratic party that is so far to the left that they believe in sunday amount alley anti-american concepts of radical wealth redistribution in order to equalize everyone. that is not what america is all b. the leading party that is leading the country in terms of the white house and congress really believes that by force, i don't mean by military force like the old school communist and social lists did, but by force of the tax code and redistribution of policies like obamacare they intend to force that on the american people. megyn: keurs te megyn: durbin chose two good people to make that example of. people don't love and reveer the hedge fund manager, they make other people a lot of money and they make a lot of money but most people have respect for our navy seals. is he on point? >> i do think he's on point. what monica just said, radical redistribution, we are talking about the radical redistribution is going back to the clinton
from the senate majority leader harry reid overnight really sparked some jitters in this session today, so we have red across the board. the shanghai composite, it is well and truly below that 2011 level, shedding another .9 of a percent. the hang seng was feeling some of that pressure from chinese stocks and shedding .6 of a percent. it was the mainland banks that were the culprit. they didn't fare as badly if the mainland. some capital requirement rules are going to be implemented that are raising concerns about loans and the ability of these major banks to give out loans the remainder of year. we have the kospi in south korea down .7 of 1%. we had a north korean launch site showing increased activity. that just increased the jitters in this market. the japanese markets, they have really been on a rally, on a roll, on a tear over the last few weeks. the nikkei 225 has gained more than 9% just the last two weeks alone. the yen had something to do with this. it did strengthen a little bit against the dollar, and it continues to do so, down about half a percent as you just mentioned. so
, they have a good opportunity in front of them. >> we heard senator reid said when asked he couldn't name any of the cut the democrats are willing to offer in the fiscal cliff negotiations. he said, "we need to get credit for cuts previously made." this is today. the cut previously made. i'm scratching my head to figure out what cuts the democrats made prior that they want credit for. if they did make credit cuts why did we run up four more years in a row? start fresh right now. talk about cuts and then talk about how are we going to raise revenues. >> eric: what would -- >> dana: what would harry reid mean by that? get credit on cuts they made. on what? >> bob: that is a $60,000 question. i'm not sure what he is talking about. but i know there will be cuts if entitlement program. readjust in the the entitlement program. there will be a tax increase on the wealthier americans of some size. i cannot believe that obama is going to travel around the country to make us think about this. if he doesn't think he will get them to go along with some marginal increase rates. >> dana: good point. let's
. majority ritter harry reid hopes the senate to work, 2013 defense program. off of the 4 u.s. ambassador susan rice meet with republican senators discussing the september attack on the consulate in benghazi, libya and she will talk with susan collins and senator bob corker. yesterday she sat down with senator mccain, gramm and ayat. senator mccain told reporters the information she gave the american people was incorrect, but a spontaneous demonstration triggered by hateful video. it was not and there was compelling evidence that the time that was certainly not the case. the house transportation and infrastructure committee is holding at hearing on amtrak's restructuring plans. the committee will hear from the inspector general and amtrak's president and representative from the united transportation union live at 10:00 eastern on our companion network c-span. [applause] >> last night secretary of state condoleezza rice and chancellor of the new york city public schools joel kline had a somewhat on education reform in washington examining america's education system and the impact on nation
. >> also late tonight, harry reid said the three republicans are politicizing the benghazi matter, calling it, quote, outrageous. >> shepard: catherine herridge in washington. the white house and congress have five weeks to keep us from going over the fiscal cliff at the end of the year. that would mean automatic tax hikes and spending cuts at the same time and an economists say it could cause another resomething. the president met with congressional leaders from both parties, but harry reid says there has not been much progress since then. mike emmanuel is on capitol hill. republicans are asking for changes to social security and medicare. any common ground? >> shep, in public, it does not sound like it. top republican leaders say if you want to avoid the fiscal cliff, you need to address the drivers of our debt. >> we know that the only way we can solve our long-term debt and deficit problem is to fix the unsustainable growth rates of our very popular entitlement programs. the president has from time to time indicated an openness to that. now is the time to actually do it. >> 42 business
is joy ann reid, and ana marie cox, washington correspondent for the guardian. thank you both for joining me tonight. >> good to be here. >> ana marie, let me start with you. do republicans see the writing on the wall in this tax debate? >> i think they do. obviously some of them do. and i have to say, this is like a very weird place to kind of like stake your claim, like this is what you're going to commit political suicide over. there are actually other conservative ideals that i understand the philosophical principles behind and why you might go to the mat on this one. but this was -- as the president said, this was something that was decided by the election. this is not something that people were wishy-washy on. americans don't mind if you raise taxes on the very wealthy. not only do they not mind but they want this. i think it only makes sense for republicans to at least do what tom cole has said, which is to settle for this now and then if you want to have that fight later, if you want to make your debate points later, go ahead and do that. at this point, the memory so fresh with wh
object, or have mitch mcconnell say i object. harry reid says, oh, well, we move on to the next thing and that's the end of it. >> that's the way they do it. they double track it. they say we'll talk about other business now. what do you think is going to be the way the senate decides this? will it be partisan whether they decide to go to a real filibuster, you go to the mattresses, you stay up all night and force quorum calls over and over again? or they give up on change? what do you think is going to be the politics of this? >> the politics right now is mitch mcconnell is absolutely opposing any change in the rules because he has the advantage of paralyzing the senate with no public accountability. the talking filibuster forces his process to be done before the american people, and i think he realizes the american people are not going to like what they see. and yet that's where it should be. if you don't have the courage of your convictions to stand before the american people and say, i am obstructing this bill and here is why, then, in fact, you should shut up, sit down, and let t
for residents in low- lying areas kron-4's alecia reid has details on where people can pick up free sandbags. >> those sandbags behind the are free. to help with the low-lying areas. once the storm heads. 6500 are stockpiled and ready to be distributed for families that need it. they're only available for san francisco residence. people were here with their identification to help keep their homes hom preven helpeven the wanting of empty beds to fill it up themselves. >> remember when you come to get the department of works operations working hard to get a maximum of 10 this sand bags. you will need to show proof of residency. >> people in one san pablo neighborhood hoping for the best, but bracing for the worst tonight. this is video from a previous heavy storm there. it caused flooding and the slide of a hillside .. damaging a number of homes. kron 4's j-r stone went back to that area today.. to see how people there are getting ready for the incoming storm. >> this hillside is covered with a plastic tarp and heavy rainfall is expected in less than 12 hours. it is full of holes. >> i am
ths to feed the bean address the beast. the argument you hear from many democrats even harry reid today, ying that elections have consequences, and this one americans voted for this. yoyou can. i don't know they voted on more spending. >> there is some truth to what you say. >> a lot. >> all truth. neil: a little. >> we're in the pregehmannal sis, thi -- we in the pregame analysis, does everyone believe we're getting threw this without any spending cuts, of course, not, here is what is going on happen decemr 31 we take steps to resolve some tax issues, it will have a lot to did with how we approach taxes next year, you will seeesome discussion, on cutting some spending but is that going to be carried over? neil: here is what i'm worried about. my point is -- >> you and i will remember this you were not even born. >> 92 neier was i then. neil: you are right. >> he was responsible. neil: idea was, i will raise taxes if you guise come back with spending cuts, he raised taxes, they did notome back with spending cuts. are republicans risking going down the same politically disastrous r
to be a new day with these guys. harry reid was very pessimistic. this is a traitorous market, we will see a lot of volatility going to the end of the year. melissa: it is like a ping-pong match. thank you very much, and very interesting day right now we are glad everybody is watching this, focusing on the fact one sentence close the market around. voicing his optimism they could reach a deal with the white house and avoiddthe fiscal cliff. looking at the oneesentence in that one word, optimism. >> that is right, with the president's remarks that he would like to see framework to avoid the fiscal cliff by christmas. sitting treasury debt up to capitol hill tomorrow to meet with congressional leaders, democrats and republicans. in the meantime the president keeping up the pressure on republicans from here to extend expiring tax cuts for middle-class taxpayers, but let them expire for wealthier taxpayers. take a listen. >> the place where we already have and three complete agreement right now is on middle-class taxes. as i have said before, we have two choices. if congress does nothing, ever
's stephen colbert territory. that's harry reid. that's what they say. that's nonsense. people take the pledge but the reason why most republican than a handful of democrats take the pledge is the only 10 to raise taxes. we just and the pledge of in the mail and people make that commitment and campaign on it and make it part of -- >> if you're running in a republican primary, it's very helpful to you, effectively difficult to run in a republican primary without signing it. they are in a box. the republicans, county and look for a way out of? >> no. which general have is a little so here's complicated bill. it's got a lot of moving parts. does it raise taxes? look, it's pretty clear in those cases. the important part of the pledge is it allows people to credibly commit they're not going to raise taxes and the people know who and what they are. is allowed john boehner and mitch mcconnell to govern recently. it's about the republican governors passed out ushers at the red states for the 24 states republican governors, republican legislature. blue are the 13 of 40 state spending on how
republicans not convinced. but top democrats like harry reid coming to her rescue saying, and i'm quoting here, the personal attacks against ambassador rice by certain republican senators have been outrageous and utterly unmoored from facts and reality. today she's back on the hill, meeting with the head of the homeland security committee saying she's not sure they have 60 votes to confirm her if, in fact, she's nominated. lynn >>> well, jill kelley, the tampa socialite caught up in the scandal involving former cia chief david petraeus, is now going on the offense. after two weeks of silence kelley's lawyers has released e-mails he wrote designed to prove she never intentionally or acted inappropriately. one letter to the u.s. attorney demands to know who in the government leaked kelley's name to the media after she received e-mails from petraeus biographer and mistress paula broadwell. meanwhile, "the new york times" reports the pentagon investigation into e-mails between kelley and general allen t top nato commander in afghanistan, has been narrowed down to between 60 and 70 messages that ac
was eileen maloney. she was terrific. assistant police chief by the name of frank reid tried to dissuade me from taking the job. "don't take it and two weeks later if something happens they will blame you" but i like to take on jobs. well, he kind of felt sorry for me, and i had no vehicles, nothing, no employees. the door bell rang and there is a police officer outside and the chief sent these keys. you have a unmarked police car until you get a vehicle. well, i paid them back. three weeks later i was driving down venice and left on to broadway and the radio went on and strong arm robbery in pacific heights and woman assaulted and bag stolen and identified the car and two individuals and proceeding north on lawenna. gee, i am going in that direction. i have a naval aif eightor's eye and incredible eye sight and wouldn't you know it there is the vehicle coming straight towards me and the traffic was slow and could reach out and touch and i made a u turn and i got on the roo. the director of radio services had a call sign at the time and close to the police chiefs. i got on and call
for allen's release. i yield my time. the presiding officer: the majority leader is recognized. mr. reid: calendar numbered 535, s. 1998. the presiding officer: the clerk will report. the clerk: calendar numbered 535, s. 1998, a bill to obtain an unqualified audit opinion and improved financial accountability and management at the department of homeland security. the presiding officer: without objection, the senate will proceed to the measure. mr. reid: i ask unanimous consent the committee-reported substitute amendment be agreed to, the bill as read be -- amendeds read a third time and passed, that any statements relating to this matter appear in the record as if read. the presiding officer: without objection. mr. reid: i now ask unanimous consent that when the senate completes its business today, it adjourn until tomorrow morning 9:30 a.m., november 29. that following the prayer and pledge, the journal of proceedings be approved to date, the morning business be deemed expired and the time for the two leaders be reserved for their use later in the day. that the senate then be in a perio
be reached. this comes on the heels of yesterday when you had harry reid expressing caution about the fact things ar were nt going that well. we are seeing the market to the downside, they have improved and you can see it spiked up. alaska mitra said to them. dagen: speaking of house speaker john boehner, he said he is optimistic. >> i'm optimistic we can work together to avert this crisis sooner than later. connell: we also want to show you this, this is skepticism from who you would think would be a major player in the deficit talks. >> i am really worried we have a probability we could go over the cliff, and that would be catastrophic. not to go over the cliff, we have to compromise, have to have revenue. the problems are real, the solutions are painful, no easy way out. the only way you can do this ifs to have a balanced approach and that is where people are headed. connell: matt welch is here. what do you make of all this, matt? >> there is nobody at the table actually interested in cutting the size of the government. that seems strange to democrats who think we're living in some sort
wound up going to emergency flee d, three days in a row, actually. >> now thousands like reid are taking lead action. civil rights attorney john buress filed a massive lawsuit against chevron on behalf of 5,000 complaints. and he says it's just the start. >>> we anticipate that we'll have another 5,000 or 6,000 that will file in the near future. >> the lawsuit is designed, one to they would them accountable for what they did. to have them acknowledge their misdeeds and not engage in coverup and to fully compensate the individuals who have been damaged financially by this. >> chevron says it set up a claims process, including help centers to compensate victims. they call the lawsuit unnecessary and pledge to fight it vigorously. reid says chevron offered to pay her $500, but shed to join others in the legal action instead. she says she wants chevron to make changes. >> i think it would minimize and cut down a lot of fires. and also to have regular checks. so this can be prevented. zbl now john says he's not sure how much money they will be seeking but he expects it to be quite a bit more
is sticking by her for now. she's not yet been nominated. harry reid said they believe the committees in charge chaired by john kerry should be in charge of this and not members from other committees like homeland security and intelligence and armed services who are getting involved in this. but as you pointed out, none of the republican senators asking questions chair anything. it's becoming very personal and very puzzling indeed. >> one last sort of puzzling hmt of this to me. i just want your perspective because you have reported on these issues for so long. it seems remarkable to me to have the acting director of the cia personally accompanying susan rice to that meeting today. this is not formal testimony. there was no committee of lindsey graham and john mccain. they don't run anything there. is it unusual to have the leader of the cia personally involved like this? >> it was remarkable to me. i described her on "nightly news" as her wing man. he was there to take the blame. and it did seem for an acting director of the cia to be put in that position rather extraordinary. he him
the fiscal cliff to prove his mandate? maybe. joining me now are joy reid, managing editor of the grio and robert reich, former labor secretary and professor at the university of california berkeley. joy, are you feeling sorry for grover norquist yet? >> immensely. he's such a lonelily l man. the senate is gone. enough republican senators have signal they're going to play ball. this is about the house of representatives and really for john boehner, everything changes in a good way for him. if we go off the curb or the cliff on january 1st, he won't be dealing with that tea party caucus and that's the bee in his bonnet that doesn't want to make a deal and by the way, a lot of them are are out the door. so greg's reporting is interesting because it signals that the white house has a public posture in which they say no, we dare not go off the cliff but we're going to get those tax rates increased and the reporting i've done tonight is that there's going to be additional meetings. this was the private version of the public meetings they did last week. now, they've been doing them in privat
bizarre that the leader of the democrats in the senate, harry reid, attacks me personally. the american people don't want their taxes raised. they have kind of signaled that in the most recent senate election where harry reid's guy lost and the anti-tax candidate won in nevada. so the tax issue is a powerful issue. i understand it comes with the territory, that people attack me personally. it doesn't bother me. i'm very comfortable in my own skin. if they want to waste their time personally attacking me, they're free to do so. but taxes are too high. spending is too high. this needs to be changed and i think the american people will make it clear as time unfolds that raising taxes is not where they want to go. >> grover norquist, thanks very much for joining us. >> thanks, wolf. >>> let's get another point of view right now. joining us, dick durbin, assistant majority leader, the senator from illinois. senator, thanks very much for coming in. we just heard from grover norquist, several republicans on capitol hill this week have said they would consider defying his pledge but for some of
of the year. >> the president and leader reid said social security should be off the table. what's your reaction to that? >> all of the entitlements need to be discussed, because they on an unsustainable path. medicare is in more immediate danger. we want to save these programs and i understand the dilemma that the president and thethey don't want to change anything. well, times change. and until we make sure these popular entitlement programs fit the demographics of the changingit's simple math. what we have lacked so far is the political courage to do what needs to be done. look, i'm not happy about divided government. i would rather have a republican president, republican senate and republic house. good things about divided government, it's the best time to do really hard stuff and i'll give you four good examples. did the comprehensive tax reform. clinton, welfare reform and balanced the budget for multiple years in the late 1990's. this is the perfect time to solve single biggest problem confronting our country and we are anxious to sit down and get the job done. \[inaudible questi
on? >> well i oppose the idea that senator reid is proposing. i think it is a mistake to limit the rights of people who elected me and others to have the right to offer amendments and to have unlimited debate on the senate floor. you know, it is interesting when president obama was a senator and republicans were thinking about using this, he said, oh, no, it is terrible, it would destroy the institution and would hurt the country. same thing when senator biden was a senator spoke against it. when harry reid was in the minority he was against it. now they're in the majority. seems like a power play. i think you shouldn't break the rules which is only thing they can do, because they don't have votes to change the rules. you should not break the rules to change the rules. melissa: from here it is so hard for us to tell how close we're getting to a deal or not. we have our own "money" meter which is scale one to money, what is likelihood a deal gets done. what do you think? what is the likelihood? >> i think it is closer to money than to your odds of winning the powerball but we're
harry reid and mitch mcconnell sent stocks to session lows. this morning we look to open to the downside. implied open down 25. s&p looking to lose five. beige book home sales ahead. as for picture in europe, a bailout for four spanish banks getting approval from the eu. still stocks are down. italy down by almost one full percentage point. road map for the morning starts off with the fiscal cliff. the president meeting with more ceos today bringing his plan straight to the people culminating in an appearance in a factory later this week. >> costco joins the dividend parting initiating a $7 a share payout on top of the regular dividend. >> and a shake-up at groupon. the board may be considering co-founder being released. >> there's powerball fever. 500 million big ones in the pot. how would you spend the money and how does the fiscal cliff factor in? we'll talk strategy with a former lottery winner. >> we begin with the fiscal cliff. this afternoon president obama is scheduled to meet with several business leaders including ceos of home depot, macy's, caterpillar and at&t but futures are
time now. >> hb 800 companies and groups sent a letter to senators harry reid, mitch mcconnell and others to say that they want repeal of the medical device tax as part of the fiscal cliff deal, this is a tax not on profits, on sales, on revenue. even if you post losses you still have to pay the tax. here's what the letter writers are warning about. if it passes, it will adversely impact patient care can increase cost of health care and adversely impact jobs. it's a 43,000 jobs could be lumped medical device makers. pacemakers, stopping brain aneurysms including prosthetics for soldiers returning from overseas and the issue is why you're hitting us with an excise tax on sales? they did a study which found when you do the math it is actually 80% in federal, state and local including the excise tax. lori: why would they go throughr the medical device makers? the tanning bed tax, the kind of understand. >> here is the rationale. the house want repeal it, but has stalled in the senate. the logic is they have to have health insurance, required to have health insurance, the lo
. it started with harry reid appointing me to the simpson- bowles commission -- 18 members. i thought this was another commission who'd work product would be lost in history and on a dusty shelf or buried in some hard drive. it turned out to be a historic effort and a game changer -- mainly through the good work of erskine bowles and ellen simpson with hard work that was put into this by 18 members, evenly divided among house and senate democrats and republicans and six public members. 11 of us voted for the final work product. i was invited to join the gang of six to continue the conversation on simpson-bowles. it expanded to the gang of eight. the conversation has been going on for two years. that is a lot of popcorn in mark warner's office. it was a great education and effort to sit across the table from conservative senators and talk through not just the reality of the deficit but the political reality of the deficit, which we have to be more sensitive to if we are looking for an honest solution. some of my friends on the left came to visit. i recall one -- the labor leader who sa
without further questioning is mind-boggling to me. >> it is interesting, senator harry reid issued a statement, saying there were personal attacks against ambassador rice. he said the a number of things. but he said, she has done nothing wrong. here's what i don't get. no one said she did anything wrong -- at least as i understand it, they are saying she didn't do her job, to ask simple question, instead of just -- as you say, parrot. but she is like a robot. so is jay carney. they repeat what they are told and they don't exercise good judgment and ask questions, saying how do you know that? why do you know that? if they did ask the questions, we ought to know. it is not that they are bad people. but they don't have good judgment to ask questions. >> look, there are basically two ways you can perform in the government at a senior level. you can be the tool of you're bureaucracy. i have known secretaries of state that i would put in that category, or you can be a real policy leader that. frequently means, it inevitably means questioning and challenging what the bureaucracy serves up
further question is mind-boggling to me. >> greta: senator harry reid, majority leader, issued a statement tonight, saying they were personal attacks of ambassador rice, but also said she's done nothing wrong. here's what i don't get. no one said she did anything wrong. at least the way i understand it, that she simply didn't do her job, which would be could ask simple question, instead of, like you said, parrot, but instead she's a robot, so is jay carney, just a robot, don't exercise good judgment, ask questions, why do you know that? if the asked those questions, ty were lied to, we don't know. it's not that they're bad people, but don't have good judgment to ask good questions. >> you can be the tool of your bureaucracy -- i've known secretaries of state i would basically put in that category -- or you can be a real policy leader. that frequently means, it inevitably means, questioning and challenging what the bureaucracy serves up to you. but i think if you -- if you don't perform that role, then you're not performing to the expectation of being a senior official in the government. th
for coming on together. >> thanks, chuck. >>> well, was it something he said? senator harry reid speaks and stocks drop. really? the market rundown is next. boy, that stock market will listen to anybody these days. remember a man who changed professional sports without ever putting on a uniform. entertainment more than any other person in american history. how many presidents lost a general election before going on to win the white house? tweet me the answer. the first correct answer gets a follow wednesday from us. ♪ i'd like to thank eating right, whole grain, multigrain cheerios! mom, are those my jeans? [ female announcer ] people who choose more whole grain tend to weigh less than those who don't. multigrain cheerios why use temporary treatments when you can prevent the acid that's causing it with prevacid24hr. with one pill prevacid24hr works at the source to prevent the acid that causes frequent heartburn all day and all night. and with new prevacid24hr perks, you can earn rewards from dinner deals to music downloads for purchasing prevacid24hr. prevent acid all day and all nig
majority leader harry reid says raising the debt limit has to be part of any package. john tester a members of the banking committee. newly re-elected. >> thanks, andrea. >> thanks very much for being with us. you're from one of the reddest of red states, you squeaked through. congratulations on that victory. what does it now bring you right into the middle of these negotiations and a tough vote. what are the people back home telling you? >> the people back home have been telling us some time we need to work together as americans, not as democrats or republicans. i think the folks back home are really sick of the hyper partisanship in washington, d.c., which has resulted in really a lot of dysfunction and so especially when it comes to the issue of debt and deficit it's going to take folks working together as americans, put the parties aside, do what's right for the country and move on. >> you're willing to vote for higher taxes some changes in medicare, including eligibility age, tougher means testing. some kind of reduction in benefits for future beneficiaries not the current. >> i tell y
don't think there's a reason to think it's going to go gang busters. >> we saw harry reid speak yesterday. the market moves when we see different comments out of washington. we saw it again today on this perception that was actually positive commentary. our bar has gotten pretty low. we see stocks move around a lot. what about interest rates? are they responding as much? >> well, perfect question. look at the chart. here's a chart of today's treasury action against the equity market. indeed, other than around 1:00 eastern after the auction, they've been correlating. stocks go up, rates go up. stocks go down, rates go down. we're trading on pr. if the premise of this exchange is should we trade on headlines, if you're a day trader who understands once you make a trade and the air is gone out of the person you trade it with, that's the only realism that is there. pr doesn't move markets more than the short term. most of the people i talk to on the automated side say these are rhythmic traders with algorithms. >> do you have a theory on why gold is down today? >> my theory is simpl
senator majority leader reid said there was little progress being made on the fiscal cliff. that was yesterday afternoon. we lost 50 points on the dow. even though mr. reid said he was hopeful a deal could be reached, damage was done. senator mccobble said democrats should be more actively involved in the debates. he said the president was traveling around the country having complain like stops, he should come back to the capitol and make a deal. today representativeboehner saying he was optimistic a cliff deal could be rachd. the market rallied nicely on that after disappointing new home sales results. just in the last hour, we've rallied because the president has come out and said he would like to have a deal on the fis calf cliff by christmas. that's exactly what the markets want to hear. they want a timetable for when a deal can be reached and they want it before the end of the year. we move up to the highs of the day on that news. >> a deal by christmas with a bow on it perhaps, bob. >>> dozens of ceos as we mentioned earlier meeting with congressional leaders right no
and spending cuts and away from taxes and no movement in harry reid's association, he says that democrats have cut enough. >> well, remember we've already done more than a billion dollars worth of cuts, we've already done that. so we need credit for that and those negotiations that take place, and however, here is a cave caveat, senator dick durbin is taking a hard line approach. quote, we can't be so naive to believe that just taxing the rich will solve our problems and put everything on the table, repeat. everything on the table. and that's the left of center dick durbin. yesterday, t was taxes, today, there's entitlements, tte impasse continues as we countdown to that deadline. next case, china, clearly the number one world's polluter and criticizes us for not doing enough about climate change, a global carbon tax could be coming, are we going to have to pay? we'll talk to a leading environmentalist after the break and of course, we will have the opening belfour you next. bell for you next. >> all right, just a few seconds away from the opening bell. the futures suggest we're going be to
the table and if harry reid is trading bars with mitch mcconnel, what is up here. senator durban said, it shouldn't be ps deal. i don't think there is a bar gain to be had. it is a win win for alabama. he is going to get the tax hikes or the rb ares will say no deal and he gets the tax hikes which is what he will prefer anyway. that is a big pot of money he can use for whatever he wants. they are still not going to be a deal. baker, democrats saying there is no problem with social security, even though the piece in the "wall street journal" today said they are $20 trillion in the hole. they said they are $40 trillion in the hole. how can democrats argue that with a straight face. i know that stuff inside and out. most of those shortfalls are in the 22nd century. we don't have a big problem with those programs. in fact most of the story is health care. the budget office may adjust their projections and the story disappears. i know people like to run aaround with that but it doesn't make sense. >> what me worry scenario. medicare no problem. medicaid no problem. i don't know, one trilli
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